RALEIGH GE Aviation could receive up to $9.9 million in state incentives for following through on its previously announced plans to create 242 new jobs at four North Carolina locations including its plant in Durham.
On Tuesday, the state announced the incentive package for GE Aviation, a division of giant conglomerate General Electric that makes jet engines and other aircraft components. The incentive package, which is conditioned on GE fulfilling its targets for job creation and investing $195 million over the next five years, also includes a grant from the N.C. Rural Economic Development Center and an employee training grant from the state community college system.
GE and the state announced the expansion plans last month, but those plans were contingent on final approval of state incentives.
As part of the expansion, GE plans to create 50 new jobs over five years and invest $29 million in its assembly plant on South Miami Boulevard in Durham. That plant assembles jet engines of all sizes.
GE also sought a total of $600,000 in incentives from the City of Durham and Durham County .
GE is adding jobs at its sites in Asheville, West Jefferson and Wilmington. The company currently employs 1,382 workers across North Carolina.
The average annual wage for the new jobs is expected to be $47,942, which exceeds the average wage in each of the four counties where GE is expanding.
In Asheville, GE is building a new 125,000-square-foot facility adjacent its existing machining plant. The new facility would produce engine components made from advanced ceramic matrix composite materials a first in the jet propulsion industry that are designed to boost performance and durability.
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